Research

Working Papers (2010-2017)

All RERI Working Papers are available free of charge. Click View PDF to access those papers that are available electronically. To order a paper that is not available electronically, click on the Request Paper button to the right of the paper you wish to receive. Some papers have executive summaries in PDF form which may be viewed by pressing the View Abstract button.

To search all working papers from 1996 through 2017, use the search function below:

 

Working Papers Available:

  Capital Expenditures, Asset Dispositions, and the Real Estate Cycle
Brent Ambrose and Eva Steiner — Published 2017
 
  Should I AirBNB my Property?: A Comparison of Returns on Short- and Long-term Urban Rentals
Andy Krause and Gideon Aschwanden — Published 2017
 
  Real Estate Portfolio Diversification and the Cost of Debt: Evidence from REIT Mortgages, Bank Loans, and Bonds
Piet Eicholtz, Irem Demirci, and Erkan Yonder — Published 2017
 
  Benchmarking Local Private Commercial Real Estate Returns: Statistics Meets Economics
Liang Peng — Published 2017
 
  Value Investment Strategies for Commercial Real Estate
David Downs, Eli Beracha, and Greg MacKinnon — Published 2017
 
  Structure Depreciation and Real Estate Returns
Jiro Yoshida — Published 2017
 
  Whose Skin Is It? Examining the Role of Risk Retention in CMBS Markets
Tony Ciochetti and Carl Larsson — Published 2017
 
  Price Dynamics of Different Price Segments in Commercial Real Estate
David Geltner and Alex van de Minne — Published 2017
 
  A New Method to Estimate Risk and Return of Commercial Real Estate Assets from Cash Flows: The Case of Open-End (Diversified) Core Private Equity Real Estate Funds
Jin Man Lee, James D. Shilling, and Charles Wurtzbach — Published 2016
  Which Factors Determine Liquidity Across the U.S. Metropolitan Real Estate Markets?
Steven Devaney, Pat McAllister, Anupam Nanda — Published 2016
  Asset Growth and Stock Performance: Evidence from REITs
David Ling, Joseph Ooi, Ruoran Xu — Published 2016
  Risk and Information Tranching, Security Governance, And Incentive Compatible Capital Structure Design
Timothy Riddiough, Jun Zhu — Published 2016
  Efficient Capital Market with Predictable Asset Returns: Evidence from Private Commercial Real Estate Investments
Liang Peng — Published 2016
  Real Estate Holdings of Public Firms and Collateral Discounts
Irem Demirci, Umit G. Gurun, Erkan Yonder — Published 2016
  Can Competition Improve Credit Ratings? Evidence from the CMBS Market
Sean J. Flynn, Andra C. Ghent — Published 2015
 
  The Credit Availability Component of Commercial Real Estate Prices
Jonathan A. Wiley — Published 2015
 
  Does Foreign Investment Affect US Office Real Estate Prices?
Anupam Nanda, Pat McCallister — Published 2015
 
  Fundamental Drivers of Dependence in Real Estate Returns
Eva Steiner, Jamie Alcock — Published 2015
 
  The Economic Foundations of Regional Real Estate Markets: An Equity Markets Approach
Marc W. Simpson — Published 2015
 
  An Information-based Pricing Factor in International Commercial Real Estate Markets
Roland Fuess, Daniel Ruf — Published 2015
 
  Impact of Large Investors in Distressed Housing Markets
Abdullah Yavas, Ronald Rutherford, Jessica Rutherford, Marc "Tim" Allen — Published 2015
 
  Optimal Capital Structure and the Effects of Deviations from Target Leverage on REIT Return Performance
Emanuela Giacomini, David C. Ling, Andy Naranjo — Published 2015
 
  Default Risk of Securitized Commercial Mortgages: Do Sustainability Property Features Matter?
Xudong An, Gary Pivo — Published 2015
 
  Inflation Uncertainty and Real Estate
Lingxiao Li, Timothy Riddiough — Published 2014
  How is Leverage Determined for Commercial Real Estate?
Liang Peng — Published 2014
  The Cross Section of Expected Real Estate Returns: Insights from Investment-Based Asset Pricing
Shaun Bond, Chen Xue — Published 2014
  The Extensive Margin of Credit, Housing Markets and the Tradeoff between Financial Stability and Homeownership
Pedro Gete — Published 2014
  Commonality in Liquidity and Real Estate Securities
Martin Hoesli, Anjeza Kadilli ,Kustrim Reka — Published 2014
  Lender Expectations and Real Estate Dynamics
Natalie Tiernan — Published 2014
  The Upgrade and Downgrade of CMBS Credit Ratings
Xudong An, Joseph Nichols — Published 2014
  Overconfidence and Corporate Decision Making: Evidence from REIT Property Transactions
Piet Eichholtz, Erkan Yonder — Published 2014
  Search Costs, Behavioral Biases, and Information Intermediary Effects
David Ling, Andy Naranjo, Milena Petrova — Published 2013
 
  Finding Cap Rates: A Property Level Analysis of Commercial Real Estate Pricing
Liang Peng — Published 2013
  Contagion Channels Between Real Estate and Financial Markets
Martin Hoesli, Kustrim Reka — Published 2013
 
  The Value of Active Management in the Commercial Real Estate Market: Evidence from Holdings and Trades
Yael V. Hochberg, Tobias Muhlhofer — Published 2013
 
  Illiquidity Measures and the Pricing Implication in Commercial Real Estate
Peng (Peter) Liu, Wenlan Qian — Published 2013
 
  Product Market Competition, Real Estate and Stock Returns
Moussa Diop — Published 2013
  Real Estate Risk and Hedge Fund Returns
Walter D'Lima, Charles Cao, Brent W. Ambrose — Published 2013
 
  Commercial Real Estate: Underwriting, Mortgages, and Prices
James A. Wilcox — Published 2012
 
  Corporate Investment in Commercial Real Estate with Costly Reversibility
Jonathan Wiley — Published 2012
 
  Governance and Design of Structured Securities: Theory and Evidence
Timothy J. Riddiough, Jun Zhu — Published 2012
 
  Performance of LEED-Existing Buildings Before and After their Certification
James A. Wilcox, Sofia Dermisi — Published 2012
 
  Residential Relocation Decisions: The Role of Neighborhood Housing Characteristics
Kwan Ok Lee — Published 2012
 
  The Determinants of REIT Volatility
Lingxiao Li — Published 2012
 
  The Spill-Over Impact of Liquidity Shocks in the Commercial Real Estate Market
Brent W. Ambrose, Sun Young Park — Published 2012
 
  Value Added From Money Managers in Private Markets? An Examination of Pension Fund Investments in Real Estate
Aleksandar Andonov, Piet Eichholtz, Nils Kok — Published 2012
 
  Commercial Real Estate Rental Index: A Dynamic Panel Data Model Estimation
Xudong An, Yongheng Deng, Jeffrey D. Fisher — Published 2011
 
  Executive Compensation and Debt Structure of REITs (Dissertation)
Ying Li — Published 2011
 
  Exploiting Property Characteristics in Commercial Real Estate Portfolio Allocation
Alberto Plazzi, Walter Torous, Rossen Valkanov — Published 2011
 
  Funding Constraints and Commercial Real Estate Pricing Spirals
David C. Ling, Andy Naranjo, Benjamin Scheick — Published 2011
 
  How Accurate Are Commercial Real Estate Appraisals? Evidence from 30 Years of NCREIF Sales Data
Susanne Ethridge Cannon, Rebel A. Cole — Published 2011
 
  Interest Rate and Investment under Uncertainty: Evidence from Commercial Real Estate Capital Expenditures
Liang Peng, Thomas G. Thibodeau — Published 2011
 
  Market Timing and Investment Selection: Evidence from Real Estate Investors
Yael V. Hochberg, Tobias Muhlhofer — Published 2011
 
  Collateral and Debt Capacity in the Optimal Capital Structure
Erasmo Giambona, Timothy J. Riddiough, Antonio Mello — Published 2010
 
  Investor Sentiment and Asset Pricing in Public and Private Markets
David C. Ling, Andy Naranjo, Benjamin Scheick — Published 2010
 
  Is Value-Added and Opportunistic Real Estate Investing Beneficial? If So, Why?
James D. Shilling, Charles Wurtzebach — Published 2010
 
  Loss Aversion and Anchoring in Commercial Real Estate Pricing: Empirical Evidence and Price Index Implications
David M. Geltner, Sheharyar Bokhari — Published 2010
 
  Risk and Returns of Commercial Real Estate: A Property Level Analysis
Liang Peng — Published 2010
 
  The Returns of Private and Public Real Estate
Sheidan D Titman, Christian Tiu, Murray Carlson — Published 2010
 

 

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